Dr. B

A Deflationary Spiral? Not Likely in the U.S.

I know that I am way out of my league here - but what would happen if we suddenly declared all debt forgiven? Instead of pouring trillons into the banks to stimulate lending - imagine what would happen to the economy if the american consumer and business had not debt - no credit cards, mortage, car payment, ect... Talk about a stimulus. As a small business owner, lack of debt would certainly allow me to hire more people and start new projects.